Dividend proposal 2009

The General Meeting of Shareholders to be held on 1 April 2010 will be recommended to declare a dividend of EUR 1.32 (2008: EUR 1.43) per share for the 2009 financial year. This represents a payout of 45% (2008: 45%) of the total result, excluding impairment and the book result on disposed activities, attributable to holders of ordinary shares of Nutreco over the period from 1 January 2009 to 31 December 2009. This dividend payout ratio is the maximum payout percentage within the Nutreco dividend policy to pay out a dividend in the range of 35-45% as adopted at the Annual General Meeting of Shareholders of 2006.

In August 2009 the Company already distributed an interim dividend of EUR 0.20 (2008: EUR 0.40) per ordinary share. Following adoption of the dividend proposal, the final dividend of EUR 1.12 can be received in cash or in ordinary shares, chargeable to the share premium account, at the shareholder’s option. The ratio between the value of the stock dividend and the cash dividend will be determined on the basis of the average weighted price during the last three trading days of the period for opting to take the stock dividend, i.e. 19, 20 and 21 April 2010. Both the cash and the stock dividend will be made payable to shareholders on 27 April 2010.

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